XML 52 R34.htm IDEA: XBRL DOCUMENT

Financial Instruments (Tables)

12 Months Ended

Nov. 30, 2021

Derivative Instrument Detail [Abstract]

The following tables disclose the notional amount and fair values of derivative instruments on our consolidated balance sheet:


As of November 30, 2021:
(millions)	Asset Derivatives					Liability Derivatives
Derivatives	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets/Other long-term assets	$	350.0	$	23.1	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	380.8		8.3		Other accrued liabilities	202.8		2.8
Cross currency contracts	Other current assets/Other long-term assets	251.0		4.4		Other long-term liabilities	257.5		8.0
Total				$	35.8				$	10.8
As of November 30, 2020:
(millions)	Asset Derivatives					Liability Derivatives
Derivatives	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets/Other long-term assets	$	350.0	$	43.1	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	27.5		1.4		Other accrued liabilities	356.3		8.2
Cross currency contracts	Other current assets/Other long-term assets	—		—		Other long-term liabilities	524.4		18.8
Total				$	44.5				$	27.0

Impact Of Derivative Instruments

The following tables disclose the impact of derivative instruments on other comprehensive income (OCI), accumulated other comprehensive income (AOCI) and our consolidated income statement for the years ended November 30, 2021, 2020 and 2019:


Fair value hedges (millions)
	Income statement location	Income (expense)
Derivative	Income statement location	2021		2020		2019
Interest rate contracts	Interest expense	$	8.2	$	5.2	$	—


	Income statement location	Gain (loss) recognized in income							Income statement location	Gain (loss) recognized in income
Derivative	Income statement location	2021		2020		2019		Hedged Item	Income statement location	2021		2020		2019
Foreign exchange contracts	Other income, net	$	(1.9)	$	(4.0)	$	0.2	Intercompany loans	Other income, net	$	2.9	$	3.0	$	(0.9)


Cash flow hedges (millions)
	Gain (loss) recognized in OCI						Income statement location	Gain (loss) reclassified from AOCI
Derivative	2021		2020		2019		Income statement location	2021		2020		2019
Interest rate contracts	$	0.3	$	—	$	—	Interest expense	$	0.5	$	0.5	$	0.5
Foreign exchange contracts	(2.0)		1.9		(0.2)		Cost of goods sold	(0.7)		1.6		1.6
Total	$	(1.7)	$	1.9	$	(0.2)		$	(0.2)	$	2.1	$	2.1

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)


Net investment hedges (millions)
	Gain (loss) recognized in OCI						Income statement location	Gain (loss) excluded from the assessment of hedge effectiveness
Derivative	2021		2020		2019			2021		2020		2019
Cross currency contracts	$	15.5	$	(20.8)	$	1.1	Interest expense	$	1.5	$	3.1	$	5.4